SALM SalMar ASA

SalMar - Integrated annual report 2024

SalMar - Integrated annual report 2024

With reference to the stock exchange notice regarding board approval of final 2024 year-end financial statement on Wednesday 9 April 2025.

Please find attached the 2024 integrated Annual report, including sustainability reporting in accordance with CSRD, for SalMar ASA. The company publishes its annual financial statements also in European Single Electronic Format (ESEF), available as an attachment to this release.

On SalMar's website, the remuneration report is also published.

For more information, please contact:

Håkon Husby, Head of Investor Relations

Tel: +47 936 30 449

Email:

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Attachments



EN
09/04/2025

Underlying

SALMSalMar ASA

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Reports on SalMar ASA

Alexander Aukner
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04/25/25 April 25, 2025 1 EN
Alexander Aukner
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Free Trial
SALM SALMAR ASA

SalMar (Buy, TP: NOK650.00) - Minor model adjustments

We have updated our estimates for the volumes in the recent Q1 trading update and a back-end-loaded harvest profile in the quarter, with a higher share of downgrades. We expect operating EBIT of NOK997m for the quarter, c16% below consensus of NOK1,188m. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our NOK650 target price. The full Q1 report is due at 06:30 CET on 20 May.

04/23/25 April 23, 2025 1 EN
ABGSC Seafood Research ... (+3)
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Alexander Aukner
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IFISH ICE FISH FARM AS
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
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Alexander Aukner
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Free Trial
LSG Leroy Seafood G...
AUSS Austevoll Seafo... ... (+13)

Time to revisit

The unfolding trade war has led us to cut our global 2025–2027e demand and trim our spot price estimates. The negative price effect is partly countered by reduced mortality boosting volumes and lowering costs, leading to net EPS cuts of 11–2%. Given the sector’s solid track record in adapting to past crises and recent share-price declines, we see a significantly improved risk/reward and have a positive stance on the sector. We have upgraded Mowi, Bakkafrost, and Grieg Seafood to BUY (HOLD).

LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
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GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
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IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
04/22/25 April 22, 2025 1 EN

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